Finland: Bearing Market 2025

Bearing Market Size in Finland

In 2021, the Finnish bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a relatively flat trend pattern. Bearing consumption peaked in 2021 and is likely to continue growth in the immediate term.

Bearing Production in Finland

In value terms, bearing production soared to $X in 2021 estimated in export price. Over the period under review, production showed a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Bearing Exports

Exports from Finland

Bearing exports from Finland reached X tons in 2021, surging by 10% against the previous year's figure. Overall, exports posted a modest expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 55%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, bearing exports soared to $X in 2021. In general, exports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2018 with an increase of 46% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Russia (X tons) and Georgia (X tons) were the main destinations of bearing exports from Finland, together accounting for 4.6% of total exports.

From 2012 to 2020, the biggest increases were recorded for Georgia (with a CAGR of +4,896.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from Finland were the Netherlands ($X), Russia ($X) and Germany ($X), with a combined 40% share of total exports. China, Estonia, Sweden, the United States, South Africa, Georgia, Singapore, Norway, Bahamas and South Korea lagged somewhat behind, together comprising a further 52%.

Georgia, with a CAGR of +3,042.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average bearing export price amounted to $X per ton, with an increase of 2.3% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2017 an increase of 12% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2020, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahamas ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+3.5%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into Finland

Bearing imports into Finland reached X tons in 2021, surging by 8.5% against 2020 figures. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 17% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, bearing imports expanded significantly to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 22% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Germany (X tons) constituted the largest supplier of bearing to Finland, with a less than 0.1% share of total imports. Moreover, bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. The third position in this ranking was held by France (X kg), with less than 0.1% share.

From 2012 to 2020, the average annual rate of growth in terms of volume from Germany totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+16.9% per year) and France (+17.7% per year).

In value terms, Germany ($X) constituted the largest supplier of ball and roller bearings to Finland, comprising 42% of total imports. The second position in the ranking was taken by Sweden ($X), with a 17% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2020, the average annual growth rate of value from Germany amounted to -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+3.3% per year) and France (+4.0% per year).

Import Prices by Country

In 2020, the average bearing import price amounted to $X per ton, with a decrease of -21% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 35% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined significantly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2020, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Sweden ($X per ton), while the price for Austria ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Germany (-11.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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